Trial Balance and end-of-period adjustments of SLM Co. on 31.12.2019 are given in Section 1 and Section 2. According to the information given, prepare: 1. End-of-period adjustments (40 P) 2. Income statement (20 P) 3. Close income and expense accounts (20 P) 4. Adjusted Trial Balance (20 P) Section 1: SLM Co. Trial Balance 31.12.2019 NO ACCOUNT CODE AND NAMES PERIOD AMOUNT BALANCE DEBIT CREDIT DEBIT CREDIT 1 100. CASH 550.000 412.000 138.000 2 102. BANKS 735.000 677.000 58.000 3 120. CUSTOMERS 643.000 124.000 519.000 4 121. NOTES RECEIVABLES 325.000 175.000 150.000 5 153 COMMERCIAL GOODS 585.000 585.000 6191 DEDUCTABLE VAT 73.000 73.000 7 220. CUSTOMERS 400.000 50.000 350.000 8 221. NOTES RECEIVABLE 120.000 30.000 90.000 9252 BUILDINGS 2.000.000 2.000.000 10 253 M. EQUIPMENTS 80.000 80.000 11 255. FURNITURES 12 320. SUPLIERS 100.000 100.000 129.000 842.000 713.000 13 321. NOTES PAYABLE 234.000 730.000 496.000 14 391. VAT CALCULATED 60.000 60.000 15 500. CAPITAL 2.400.000 2.400.000 16 600. D. SALES 515.000 515.000 17 631. MARKETING EXPENSES(-) 24.000 24.000 18 632 G.A.E.(-) 34.000 34.000 18.000 18.000 19 645 MSS PROFIT 17.000 17.000 20 646. FE GAINS 21 653. COM. EXPENSE(-) 11.000 11.000 7.000 22 645 MSS LOSSES(-) 7.000 6.050.000 6.050.000 4.219.000 4.219.000 TOTAL Section 2: End-of-period Adjustments monthly on 31.12.2019 1. The value of commercial goods is 270.000 TL in stocks at the end of period. 2. Useful life of buildings is 50 years, Useful life of equipments and furniture is 10 years. 3. At the end of month, An office furniture was lost. Cost of furniture is 5.000TL. Cost of asset will be paid within 2 months by the personnel who were misappropriated.